[Featured Stock] SK Bioscience, Four Consecutive Days of Record High Rally

[Asia Economy Reporter Ji Yeon-jin] SK Bioscience continued its rally, hitting new highs for four consecutive days amid expectations of improved performance in the second half of the year.

On the 5th, at 10:29 AM, SK Bioscience was trading at 221,000 KRW on the Korea Exchange, up 4.99% (10,500 KRW) from the previous day. During the session, the stock rose to 231,000 KRW, setting a new 52-week high.

Following strong performance in the second quarter, SK Bioscience is expected to maintain solid results in the second half of the year. On the 2nd, the stock surged 14%, hitting a new record high, and has continued its upward trend since then.

In the early trading session on the 5th, SK Bioscience reached a new high of 231,000 KRW, up 9.74% from the previous trading day. As of 10:03 AM, it was trading at 219,500 KRW, up 4.28% from the previous day.

SK Bioscience announced on the 30th of last month that its operating profit for the second quarter was preliminarily estimated at 66.2 billion KRW, turning profitable compared to the same period last year. Sales reached 144.6 billion KRW, a 277.2% increase year-over-year.

In the securities industry, SK Bioscience's performance in the second half of the year is expected to be even better.

Park Byung-guk, a researcher at NH Investment & Securities, said about SK Bioscience, "This company is more promising in the second half of this year and next year," adding, "Second-half performance will grow further due to CMO/CDMO and Novavax government contract volumes."